Ethereum ETH Price News Today – Technical Analysis Update, Price Now! Elliott Wave Price Prediction!

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Ethereum ETH Price News Today – Technical Analysis Update and Price Now! In this video I talk about a technical analysis of the Ethereum Price and I talk about some important price moves that are happening right now! Ethereum Price Prediction! I also talk about Elliott Waves!

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Hello and welcome to another update video about ethereum the ethereum chart today hasn’t really moved much and not since my last update but it’s obviously at a key breakout Point um here at around 330 it’s actually broken already slightly above it but so far hasn’t really moved it but it’s consolidating

Around that level which could be a bullish signal shortterm at least and yeah I mean we see some things change on the E chart right I was already starting to get a little bit concerned that ether might not start to outform bitcoin but um things are starting to look a little

Better we take a look at that now first of all what’s good is that even though the start down here was messy essentially ether has completed a potential five wve move to the upside into the February highs so we’re dealing here with a potential five wve move okay

Um I have labeled it only wave one with a question mark because as the detailed count shows we could also get another extension in wave five of one it just depends on how we count the move up unfortunately wave counting is always a little bit subjective so I prefer to use

The Fibonacci levels as well where they have to be used in addition um I cannot give you a very clear answer but my tendency is to expect higher prices until the market gives us a signal what kind of signal would that be well I would still like to see a break

Below the um last week’s lows here around 2,877 would really like to see that um as a signal that Wave 2 has started there’s no guarantee anymore for a wave 2 okay no guarantee um I did warn everybody already uh one or two weeks ago and said okay if we continue to to

Rise and climb and a certain threshold is crossed that indicates that we are already in the midst of a third wave rally which means that we might not get this wave to pull back how could that be you’re asking maybe you’re asking that a few people asked me in the comments well

It just depends um typically what we’re looking for is a five wave structure and then it should be corrected um however there is a phenomenon that um well you know obviously these it’s bit difficult to explain and I will not make it very long but you know in crypto

Obviously you get these wild extensions okay and we’re obviously watching a chart for potential and if the market shows pullbacks they are opportunities especially if we have identified something as an uptrend and then pullbacks and an uptrend are opportunities now we had a lot of opportunities here on the E chart

Opportunities to load up to add to core positions okay to get positioned wave two wave two wave two at some point it’s just going to melt okay it’s just going to escalate and you see even in previous bullish runs there are not always the pullbacks sometimes only very shallow

Pullbacks and at some point you’re just in the heart of a so-called third wave rally like here and then pullbacks are just extremely shallow and that’s sort of maybe if you look at this look a little bit about you know at how this looks we could sort of be at the out of

This and that’s what I mean you know at some point it’s just going to there is not going to be that five wve move up anymore you know um and the three-wave pullback I mean from here we could have a one two and then you see what’s this I mean it’s

Already very choppy you know lot of overlaps but potentially that was a leading diagonal and then you have five waves up somewhere and you’re watching for a deep pull back it just doesn’t happen anymore okay and it just doesn’t happen anymore because the market is already in that melt up phase in that

Heart of a third wve rally um that’s why pullbacks are never guaranteed if they show there can be opportunities but they are counter Trend moves at some point the sentiment is getting so bullish that Corrections aren’t happening anymore until later and that’s what I’ve sketched out here if we get the break

Above 3,100 and it’s not like okay we go to 3,110 it’s going to escalate not really not necessarily but we know that the 78.6 extension is a little bit like a magical level if the price breaks above it it might escalate directly okay we had a situation like that on the Rune

Chart end of last year um now granted we’re now in a correction on the Rune chart but that is the next fourth wave yeah that could be what what would be here maybe this fourth wave um but Rune just escalated in the heart in the main element of that third wave rally also

Rune yeah here you could have said okay we had had a one two setup here okay where was the additional one two just didn’t happen or it was so small because the third waves we typically want to get positioned at the beginning of a third wave because of that okay especially in

Crypto and it just escalated just a long third wave rally without additional pullbacks okay so that is what could happen on the East chart maybe even a little bit more aggressively but also here in a short period of time this chart just made a 360% and on the eth chart if talk about

Okay bull market targets you know 8 to what is it 8 to 12K from here I mean that’s not even 200% so okay so I hope that that um is clear obviously it’s a very bullish structure I haven’t really talked about anything else for more than a year this structure hasn’t really

Changed yeah maybe the labels have here and there moved a little bit but overall the bullish outlook for ether hasn’t changed um therefore as I said we need a signal to confirm that some kind of a top is in place that would be a break below 2,877 against that level the focus can

Be on higher still because we have not seeing any signal that the uptrend is over and um yeah the next level is 3,100 to watch and above that 3,3 uh 236 but when we get there maybe we don’t even get that wave two pullback anymore I mean we could still but the probability

Is reduce okay so um yeah that’s sort of what I’m watching and then also what’s interesting on the BTC chart obviously watching that um for some Clues if ether is starting to outperform bitcoin and let’s go to the one hour chart on that chart we now I think we

Have a five wave move up again you know we had five waves up here three waves down five waves up it’s looking good um we’re now approaching a trend line so this where it could get a little bit of resistance that’s only eth BTC it doesn’t really have so much to do with

The USD chart but obviously those two together if e BTC is going up ether is outperforming Bitcoin that’s what we see right now expect a little bit of resistance here and if we now see a corrective pullback then we might have another so one two one two setup and it

Could also escalate and then we have the eth BTC chart outperforming and ethusd um condition here is that the price does not not the price e BTC basically does not break below 051 BTC that’s my update about ether hope you like the update if you did please hit the like button leave a

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